The improvement in occupancy was due to a federal government body as tenant for four office floors in the Münster Campus that started in September 2022, and a data centre occupier in one of the office buildings in Spain.
IREIT Global - which counts Tikehau Capital and City Developments as sponsors and owners of the manager - owns 37 freehold properties comprising five office properties in Germany, five office properties in Spain and 27 retail properties in France, with a total lettable area of around 384,000 sqm and valuation of EUR1 billion.
In a business update for 3QFY2022 for the three months to Sept 30, occupancy improved 96.5% as at Sept 30 compared to 95.8% as at Dec 31, 2021; and weighted average lease expiries (WALE) rose to 4.6 years as at Sept 30, compared to 3.8 years as at Dec 31, 2021.
